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Date: 14 Oct 2005 Company: Worldwide Biotech & Pharmaceutical Group Stock: WWBP . OB Current Price: $1.80 Short Term Target: $3 12month Target: $5 - $7
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WWBP Receives Positive Response at China Economic Summit for its HCV (Hepatitis C Virus) Technology in Beijing
XI'AN, China, /Xinhua-PRNewswire/ - Worldwide Biotech & Pharmaceutical Group (OTC Bulletin Board: WWBP - News; "WWBP") successfully introduced its Chinese Golden Medal patented invention - "the Intact Hepatitis C Virus (HCV) and Method for Culturing HCV in Vitro by Cell Culture" to conventioneers when Ms Wenxia Guo, CEO and President of WWBP, attended the China Economic Summit held in Beijing.
As a core part of the 8th China Beijing International High-tech Exposition, which is held annually, the China Economic Summit mainly focuses on high-tech innovation and China's sustainable economic growth. Because high-tech innovation was the main theme of the Summit, WWBP seized the opportunity by introducing a leading invention for medical technology named, HCV (Hepatitis C Virus), and more importantly, by this chance WWBP has won an initial success for its recognition and reputation. This Economic Summit has provided WWBP with a platform to introduce its achievement in HVC technology to all the attendants of the Summit across the world.
In fact, China is harboring a third of all chronic hepatitis B (HBV) sufferers and a fourth of chronic hepatitis C (HCV) sufferers, 120 million and 41 million people respectively. With this huge potential market, it is clear that the situation WWBP faces is prosperous and but also competitive.
"We are very thankful for being given such a great opportunity to attend the Economic Summit. The theme of this summit which is around innovation let us know that it's the right time for WWBP to quicken the steps ahead to high-end technology development," said Wenxia Guo, CEO and President of WWBP, "WWBP is a biotech company and the technological innovation is our core element. With this predominance, WWBP will quicken the stages of HCV development with all our strength."
About Worldwide Biotech & Pharmaceutical (Group) Co., Ltd.
Worldwide Biotech & Pharmaceutical Company ("WWBP") is a hi-tech biotech company with top-ranking pharmaceutical R&D abilities, Good Manufacturing Practices (GMP) licensed manufacturing facilities and a well-established marketing network in China and Southeast Asia. The product range of WWBP covers Hepatitis C Virus (HCV) products, diagnostic medicines and Over-The-Counter (OTC) drugs. WWBP currently possesses of 35,940 square meters of land and 5,359 square meters of GMP standard facilities. With strong pharmaceutical R&D abilities especially in the HCV field, WWBP has been known as the first biotech company in the world to hold the technology of culturing intact HCV in vitro by cell culture. Its principle project "the Intact Hepatitis C Virus (HCV) and Method for Culturing HCV in Vitro by Cell Culture" was awarded with a Chinese patent by the China Patent Bureau and the prestigious China Patent Golden Medal by the World Intellectual Property Organization and China Patent Bureau. The medal is the only one issued for achievement in the biomedical sciences during the past 10 years. WWBP has achieved a GMP production scale level of 10,000 ml for concentrated HCV material and 10 grams HCV antigen per month, which is expected to bring WWBP considerable gross sale revenue each year and greatly strengthen the company's R&D on anti-HCV drug screen and HCV human vaccine. WWBP has successfully reached two merger agreements with pharmaceutical companies in China, all of which have scalable production and well-established sales network and the acquiring is expected to be finished before the end of August 2005. The acquisitions will strengthen WWBP's R&D abilities and production scale, as well as extend its marketing network throughout China and Southeast Asia. WWBP has been working closely with pharmaceutical research institutes, and has established connections with both central & local governments.
About the China Economic Summit
The China Economic Summit was held at the Great Hall of the People in Beijing on May 24, 2005 and, it is a main part of the 8th China Beijing International High-tech Exposition. This summit will focus on the following key items: "2005 China Innovation Year", "Financial Innovation", "Enterprise Governing and China's Economic Sustainable Growth." During the summit, a number of famous economists and entrepreneurs gave a brilliant debate on key areas.
About HCV (Hepatitis C Virus) Technology
HCV is a small, enveloped, single-stranded, blood-borne RNA virus in the family Flaviviridae. HCV is a major cause of liver disease in the United States and the world. WWBP has committed a large amount of cash and resources to the development of its cornerstone technology: a laboratory method for culturing (growing, propagating) intact Hepatitis C Virus. After three years of intensive research, the scientists at WWBP achieved a technological breakthrough for culturing HCV in vitro, making it the first to overcome the main hurdle to HCV research and product development. The breakthrough in establishing a cell culture system for HCV production and infection by WWBP scientists provides a potentially unlimited source for HCV and a comprehensive technology platform upon which the Company can be built. From this Rosetta stone, WWBP hopes to development new generation HCV diagnostics, new classes of HCV drugs, HCV vaccines and to be part of the development of next-generation anti-HCV targeted (gene) therapies.
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